Summary by Moomoo AI
Emeren Group reported financial results for fiscal year 2023, with revenue increasing 72% to $105.6 million from $61.3 million in 2022. The company achieved a gross margin of 23.7% but recorded a net loss of $3.2 million attributed to Emeren Group Ltd. The results fell below full-year guidance primarily due to delays in closing 6 project development sales in U.S. and Europe, which are now expected to close in 2024.During 2023, Emeren successfully monetized approximately 130 MW of solar projects and over 1 GWh storage projects. Key transactions included the sale of a 58 MW solar portfolio in Poland, a 410 MW battery storage system portfolio in Italy, a 53.6 MWp solar portfolio in Hungary, and an 11.5 MW solar project in Germany. The company also expanded its presence in Spain through the...Show More